Mark Steinberg and Terence Cole’s Marcol is due to complete on £51m of deals in the UK, selling three assets and reinvesting in three other assets in London and Manchester.
Marcol has sold Imperial Buildings on Kingsway in London’s Midtown and the Denby Pottery distribution centre in Derby. It is also about to complete to sell the Bodyshop International complex at Wick in Littlehampton.
The sales raised £30m.
Marcol has bought Priory House at St John’s Lane and 18-25 Britton Street in Clerkenwell in London, and is in talks to buy the 100,000 sq ft West Point office tower in Old Trafford, Manchester. It will refurbish and re-let West Point when the deal completes.
Michael Elliott, Fisher Hargreaves Proctor, M3 and Hamilton advised Marcol on the deals. No agents advised on the deals to buy Britton Street and West Point.
Marcol said it had more funds available for central London investment.